Rockshine Limited - Period Ending 2021-09-30

Rockshine Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Financial Statements	5 to 8

Rockshine Limited

Company Information

Directors

P D Dean S L Dean S J Rutt A F Screech

Registered office

Beeches Farm Icknield Way Tring Hertforshire HP23 4LA

Accountants

Dixon Wilson 22 Chancery Lane London WC2A 1LS

Rockshine Limited

(Registration number: 10402871)

Balance Sheet as at 30 September 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	2,985	3,582
Investment property	5	13,430,617	12,688,500
		13,433,602	12,692,082
Current assets
Debtors	6	5,774	7,120
Cash at bank and in hand		110,834	68,369
		116,608	75,489
Creditors: Amounts falling due within one year	7	(11,504,096)	(11,797,929)
Net current liabilities		(11,387,488)	(11,722,440)
Total assets less current liabilities		2,046,114	969,642
Provisions for liabilities	8	(232,654)	-
Net assets		1,813,460	969,642
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,813,360	969,542
Total equity		1,813,460	969,642

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Rockshine Limited

(Registration number: 10402871)

Balance Sheet as at 30 September 2021

Approved and authorised by the Board on 7 June 2022 and signed on its behalf by:
 

.........................................

S J Rutt

Director

Rockshine Limited

Notes to the Financial Statements

Year Ended 30 September 2021

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Beeches Farm
Icknield Way
Tring
Hertforshire
HP23 4LA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention except where otherwise stated.

Going concern

The directors of the parent company have confirmed that they will not seek repayment of the amount due for at least a further year from the date of approval of the accounts. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received as rent shown net of tax. Rental income is recognised on a straight line basis over the life of the lease.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

The current tax and deferred tax charges are calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Rockshine Limited

Notes to the Financial Statements

Year Ended 30 September 2021

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Other property, pkant and equipment	10% on cost

Investment property

Investment property is carried at fair value, and is revalued annually by the directors to an amount equal to fair value. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services provided in the ordinary course of business. Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity.

3	Staff numbers

The average number of persons employed by the company during the year was 1 (2020 - 0).

Rockshine Limited

Notes to the Financial Statements

Year Ended 30 September 2021

4	Tangible assets

	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 October 2020	5,970	5,970
At 30 September 2021	5,970	5,970
Depreciation
At 1 October 2020	2,388	2,388
Charge for the year	597	597
At 30 September 2021	2,985	2,985
Carrying amount
At 30 September 2021	2,985	2,985
At 30 September 2020	3,582	3,582

5	Investment properties

	2021 £
At 1 October 2020	12,688,500
Fair value adjustments	742,117
At 30 September 2021	13,430,617

The fair value of the company's investment property was revalued on 30 September 2021. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £12,500,000 (2020 - £12,500,000).

6

Debtors

	2021 £	2020 £
Trade debtors	5,774	7,120
	5,774	7,120

Rockshine Limited

Notes to the Financial Statements

Year Ended 30 September 2021

7

Creditors

	2021 £	2020 £
Due within one year
Trade creditors	6,932	1,756
Amounts due to group undertakings	11,375,088	11,690,799
Taxation and social security	78,429	82,193
Other creditors	43,647	23,181
	11,504,096	11,797,929

8	Deferred tax and other provisions

	Deferred tax £	Total £
Additional provisions	232,654	232,654
At 30 September 2021	232,654	232,654